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Insurer chief risk officers are gaining a more prominent role as the industry places greater focus on Big Data and analytics to address increasing risk exposure, according to an Ernst & Young report. "Even marketing and branding efforts carry higher risks than previously, given that social media and consumer empowerment mean every interaction that goes awry can turn into a highly visible (and potentially costly) media event," the report says. "In other words, insurers are coming to terms with the presence of risk across their operations and seeking to define the right strategies and tactics to manage it properly."

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A bill that seeks to streamline a system for nonresident producer licensing by establishing the National Association of Registered Agents and Brokers has the backing of agent and broker groups as well as state insurance regulators. While the National Association of Insurance Commissioners "recognizes that streamlined nonresident producer licensing is an important goal," a move to create such a system "must not undermine current state authorities to protect insurance consumers and take enforcement action against malfeasant producers," said Monica Lindeen, the group's vice president.

The U.S. Supreme Court has sided with an insurer facing a class action lawsuit by ruling that the case should be in federal court. The homeowner in the case signed a stipulation limiting damages at $5 million for the class and had sought to keep the lawsuit in a state court considered by insurers as friendly to plaintiffs. The decision indicates that "class action plaintiffs cannot manipulate the system by slicing and dicing claims," said Theodore Boutrous, who represented the insurer.

Mitigation efforts by Sacramento County, Calif., are resulting in a 35% discount on flood insurance for owners of 11,500 properties, officials say. The county achieved a better rating in the Federal Emergency Management Agency's Community Rating System program because of the efforts. The county's score is matched or exceeded by only four other communities nationwide, FEMA's Nancy Ward says.

A Fairleigh Dickinson University survey of New Jersey registered voters found that most respondents want Hurricane Sandy victims who receive federal disaster aid to rebuild their homes to be resistant to "significant weather events." The survey also found that 58% of respondents are in favor of aid recipients having to return the money if they fail to follow the Federal Emergency Management Agency's guidance on rebuilding.

Increasing air temperatures and Atlantic Ocean surface temperatures could produce more hurricanes like Katrina this century, research indicates. The study is based on storm surges, said Aslak Grinsted of the University of Copenhagen. "When people talk about [hurricane] intensity normally, then they mean wind speed. But that is not what is causing the most damage only. Sometimes it's about how fast it is traveling," Grinsted said.